Maytus Capital Management LLC Takes Position in Roku, Inc. $ROKU

Maytus Capital Management LLC bought a new stake in Roku, Inc. (NASDAQ:ROKU) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 44,000 shares of the company’s stock, valued at approximately $4,774,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. Captrust Financial Advisors lifted its position in shares of Roku by 3.3% in the fourth quarter. Captrust Financial Advisors now owns 16,279 shares of the company’s stock valued at $1,766,000 after acquiring an additional 524 shares in the last quarter. Artisan Partners Limited Partnership boosted its position in Roku by 3.9% during the fourth quarter. Artisan Partners Limited Partnership now owns 577,646 shares of the company’s stock worth $62,669,000 after acquiring an additional 21,773 shares during the last quarter. Fred Alger Management LLC boosted its position in Roku by 7,087.7% during the fourth quarter. Fred Alger Management LLC now owns 1,421,440 shares of the company’s stock worth $154,212,000 after acquiring an additional 1,401,664 shares during the last quarter. ExodusPoint Capital Management LP boosted its position in Roku by 71.5% during the fourth quarter. ExodusPoint Capital Management LP now owns 84,813 shares of the company’s stock worth $9,201,000 after acquiring an additional 35,368 shares during the last quarter. Finally, Blair William & Co. IL boosted its position in Roku by 12.1% during the fourth quarter. Blair William & Co. IL now owns 50,448 shares of the company’s stock worth $5,473,000 after acquiring an additional 5,433 shares during the last quarter. Hedge funds and other institutional investors own 86.30% of the company’s stock.

Key Stories Impacting Roku

Here are the key news stories impacting Roku this week:

• Positive Sentiment: Fox agreed to acquire Roku (ROKU) for about $22 billion, valuing each share at roughly $160 in cash and stock; the deal confirms a strong strategic premium versus where the stock traded before the announcement. Fox to buy Roku in $22 billion deal
• Positive Sentiment: Several analysts lifted or reiterated higher price targets on Roku (ROKU), including targets around $160 to $175, reinforcing the view that the company has become a premium takeover asset. Roku analyst forecasts
• Neutral Sentiment: Law firms have begun investigating whether the proposed Fox deal gives Roku (ROKU) shareholders a fair price, which adds headline risk but does not alter the transaction yet. Fairness investigation into Roku sale
• Negative Sentiment: Roku CFO Dan Jedda sold 7,000 shares under a pre-arranged trading plan, a routine insider sale that can still weigh on sentiment. Roku insider sale
• Negative Sentiment: Evercore downgraded Roku (ROKU) from strong-buy to hold, signaling that some analysts think much of the upside has already been captured after the acquisition news. Evercore downgrade of Roku

Analyst Ratings Changes

ROKU has been the topic of a number of recent research reports. JPMorgan Chase & Co. restated a “neutral” rating and set a $160.00 price target (up from $150.00) on shares of Roku in a research report on Tuesday. Wedbush lowered shares of Roku from an “outperform” rating to a “neutral” rating and set a $155.00 price target on the stock. in a research report on Tuesday. Morgan Stanley boosted their price target on shares of Roku from $150.00 to $170.00 and gave the stock an “overweight” rating in a research report on Thursday, June 4th. Wells Fargo & Company boosted their price target on shares of Roku from $137.00 to $167.00 and gave the stock an “overweight” rating in a research report on Friday, May 1st. Finally, KeyCorp lowered shares of Roku from an “overweight” rating to a “sector weight” rating in a research report on Monday. Eleven investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $153.71.

Insiders Place Their Bets

In other Roku news, CEO Anthony J. Wood sold 75,000 shares of Roku stock in a transaction dated Monday, May 11th. The shares were sold at an average price of $128.79, for a total transaction of $9,659,250.00. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, insider Mustafa Ozgen sold 10,194 shares of the business’s stock in a transaction that occurred on Friday, June 12th. The shares were sold at an average price of $144.00, for a total transaction of $1,467,936.00. Following the completion of the sale, the insider directly owned 19,185 shares in the company, valued at $2,762,640. This trade represents a 34.70% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 713,194 shares of company stock valued at $81,763,589 over the last ninety days. Company insiders own 13.45% of the company’s stock.

Roku Price Performance

Shares of ROKU stock opened at $137.95 on Wednesday. The firm’s 50-day moving average is $120.40 and its two-hundred day moving average is $106.95. Roku, Inc. has a 12 month low of $77.64 and a 12 month high of $148.88. The company has a market capitalization of $20.34 billion, a PE ratio of 103.72 and a beta of 2.06.

Roku (NASDAQ:ROKU) last issued its earnings results on Thursday, April 30th. The company reported $0.57 EPS for the quarter, topping analysts’ consensus estimates of $0.34 by $0.23. Roku had a net margin of 4.06% and a return on equity of 7.64%. The company had revenue of $1.25 billion for the quarter, compared to the consensus estimate of $1.20 billion. During the same period in the previous year, the firm earned ($0.19) earnings per share. Roku’s quarterly revenue was up 22.4% compared to the same quarter last year. Sell-side analysts forecast that Roku, Inc. will post 2.41 EPS for the current year.

Roku Profile

Roku, Inc (NASDAQ: ROKU) is a technology company that develops and operates a proprietary streaming platform designed to deliver entertainment content to consumers via internet-connected devices and smart televisions. Since its inception in 2002 in California, Roku has focused on simplifying access to streaming services for viewers worldwide. The company’s platform enables users to discover, access and manage a wide array of over-the-top content from major streaming services, free ad-supported channels and niche providers.

At the core of Roku’s product lineup are a range of streaming players and sticks, which connect to televisions via HDMI and deliver the Roku OS experience.